https://www.taxtmi.com/caselaws?id=379299 The ITAT allowed the appeal, ruling in favor of the appellant by deleting the entire addition of Rs. 54,27,412 disallowed under section 37 of the Income Tax Act, 1961 for A.Y. 2015-2016. The ITAT held that the expenses claimed as business promotion costs were legitimate and not in violation of regulations, emphasizing they were for brand recognition and not considered freebies. The decision overturned the lower authorities' disallowance, citing the expenses' compliance with regulations applicable to pharmaceutical companies and distinguishing them from previous judgments referenced by the revenue authorities. en-us Mon, 29 Apr 2019 00:00:00 +0530 Tue, 30 Apr 2019 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379299 The ITAT allowed the appeal, ruling in favor of the appellant by deleting the entire addition of Rs. 54,27,412 disallowed under section 37 of the Income Tax Act, 1961 for A.Y. 2015-2016. The ITAT held that the expenses claimed as business promotion costs were legitimate and not in violation of regulations, emphasizing they were for brand recognition and not considered freebies. The decision overturned the lower authorities' disallowance, citing the expenses' compliance with regulations applicable to pharmaceutical companies and distinguishing them from previous judgments referenced by the revenue authorities. Case-Laws Income Tax Mon, 29 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379299